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2018-03-13 16:18:01

HAS

Hasbro

$89.35

-0.72 (-0.80%)

, MAT

Mattel

$14.47

-0.52 (-3.47%)

…16:18

03/13/18

03/13

16:18

03/13/18

16:18

Toys R Us drafting court motion for liquidation plan, CNBC says

Toys R Us is in the process of drafting the court motion for its liquidation plan, which could be filed as soon as late Wednesday evening or early Thursday, a source familiar with the matter told CNBC. The retailer has missed a payment to some of its vendors and has not been responsive to calls from its vendors, the report added, corroborating a prior report from Bloomberg. Toymakers that supply Toys R Us and have seen their shares react to headlines regarding the retailer include Hasbro (HAS), Mattel (MAT) and JAKKS Pacific (JAKK). Reference Link

Wells Fargo analyst Tim Conder raised his price target for Hasbro to $100 from $95 as Q4 revenue/margins were not as bad as feared precipitating short covering, but core underlying earnings quality deteriorated. The analyst reiterates a Market Perform rating on the shares.

02/08/18

BMOC

02/08/18NO CHANGETarget $100BMOCMarket Perform

Hasbro price target raised to $100 from $83 at BMO Capital

BMO Capital analyst Gerrick Johnson raised his price target on Hasbro to $100 after the company's Q4 earnings beat, but notes that operating performance was "well below expectations", with gross margins missing estimates and Star Wars segment trending softly. Johnson keeps his Market Perform rating on Hasbro, adding that the stock typically rallies into the Toy Fair scheduled for February 16th and sees the focus turning to the release of Frozen 2.

03/08/18

BMOC

03/08/18NO CHANGETarget $96BMOCMarket Perform

Hasbro price target lowered to $96 from $100 at BMO Capital

BMO Capital analyst Gerrick Johnson lowered his price target on Hasbro to $96 and kept his Market Perform rating in the wake of last month's annual New York Toy Fair. Johnson writes that while the company has executed well in its "solid strategy", his meetings with the management of the company as well as those of its peers suggest that the U.S. toy market is expected to be flat with some added uncertainty related to the bankruptcy of Toys R Us, evolving retail landscape, and the underperformance of movie toys. The analyst adds that while Hasbro is gaining share with its "new approach to product development", its valuation is at a premium of 17-times forward multiple vs. 15-times historical average.

Barclays analyst Felicia Hendrix downgraded Mattel (MAT) to Underweight from Equal Weight and cut her price target for the shares to $13 from $16. The analyst maintains an Overweight rating on Hasbro (HAS) while trimming her target for the stock to $100 from $110. Mattel faces downside risk from the potential Toys R Us liquidation, Hendrix tells investors in a research note. The company generates 8% of its sales from Toys R Us and its shares are up 4% since reporting earnings on February 1, the analyst notes. She believes sell-side estimates for both Mattel and Hasbro likely only include the closure of 182 Toys R Us U.S. stores. The analyst finds Hasbro's risk/reward more favorable at current share levels.

MATMattel

$14.47

-0.52 (-3.47%)

03/09/18

LEHM

03/09/18DOWNGRADELEHMUnderweight

Mattel downgraded to Underweight from Equal Weight at Barclays

03/09/18

03/09/18DOWNGRADE

On The Fly: Top five analyst downgrades

Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Mattel (MAT) downgraded to Underweight from Equal Weight at Barclays, with analyst Felicia Hendrix saying Mattel faces downside risk from the potential Toys R Us liquidation. 2. Himax (HIMX) downgraded to Market Perform from Outperform at Northland and to Neutral from Buy at Nomura Instinet. 3. Ecopetrol (EC) downgraded to Underperform from Hold at Santander. 4. Acacia Communications (ACIA) downgraded to Underweight from Equal Weight at Morgan Stanley, with analyst Meta Marshall saying he thinks Wall Street estimates remain too high for 2019 as he does not see a rebound in Acacia's biggest markets -- namely China and datacomm systems -- being as lucrative as consensus expectations given competition and pricing pressures. 5. Match Group (MTCH) downgraded to Market Perform from Outperform at Wells Fargo, with analyst Peter Stabler saying he believes further share appreciation will need to rely "more squarely on positive revisions rather than multiple expansion." This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

02/26/18

02/26/18DOWNGRADE

On The Fly: Top five analyst downgrades

Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Albermarle (ALB) downgraded to Underweight from Equal Weight at Morgan Stanley by analyst Vincent Andrews, who cited concerns on both the lithium supply and demand side. On the lithium demand side, bulls' electric vehicle penetration rate forecasts seem "aggressive, said Andrews. He also now has material concerns on the supply side following the recent Chilean government agreement with SQM (SQM), added Andrews. SQM was also downgraded to Underweight from Equal Weight at Morgan Stanley by analyst Javier Martinez de Olcoz Cerdan. 2. Halliburton (HAL) downgraded to Neutral from Buy at BofA/Merrill by analyst Timna Tanners, who said the U.S. shale story is maturing and there are limited catalysts for shares. Tanners expects a more muted response to high oil prices given newbuiilds coming into the market in 2018. 3. Aqua America (WTR) downgraded to Market Perform from Outperform at Wells Fargo by analyst Jonathan Reeder, who cited valuation and said he prefers shares of American Water (AWK) at current levels. 4. Mattel (MAT) downgraded to Underperform from Hold at Jefferies by analyst Stephanie Wissink. The shares currently reflect an "aggressive" sales and profit recovery to 15% margins in 2020, Wissink said, however, believes industry conditions are challenging recovery assumptions. 5. Empire State Realty (ESRT) downgraded to Hold from Buy at Stifel by analyst John Guinee, who said he expects 2018 to be a "difficult year for value creation metrics" and notes his FFO estimates continue to decline. Guinee added that the Manhattan investment market is highly competitive and that he's not convinced the company will deploy the cash balance into new investments any time soon. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

JAKKJAKKS Pacific

$2.40

0.15 (6.67%)

09/21/17

09/21/17DOWNGRADE

On The Fly: Top five analyst downgrades

Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Hanesbrands (HBI) downgraded to Neutral from Buy at Nomura Instinet with analyst Simeon Siegel citng the stock's rise of over 14% year-to-date. 2. Biogen (BIIB) downgraded to Market Perform from Outperform at Raymond James with analyst Laura Chico citing the latest MS survey feedback that continues to show headwinds to the franchise. 3. Terex (TEX) downgraded to Hold from Buy at Deutsche Bank with analyst Nicole DeBlase citing valuation with the shares up 39% year-to-date. 4. JAKKS Pacific (JAKK) downgraded to Underperform from Neutral at DA Davidson with analyst Linda Bolton Weiser saying it expects its EBITDA to drop year-over-year. 5. USG (USG) downgraded to In Line from Outperform at Evercore ISI. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

10/30/17

DADA

10/30/17UPGRADEDADANeutral

JAKKS Pacific upgraded to Neutral from Underperform at DA Davidson

10/30/17

DADA

10/30/17UPGRADETarget $3DADANeutral

JAKKS Pacific upgraded to Neutral at DA Davidson on valuation

As noted earlier, DA Davidson analyst Linda Bolton Weiser upgraded JAKKS Pacific to Neutral from Underperform and raised her price target to $3.00 from $2.25. The analyst says the year-to-date free cash flow exceeded her forecasts, noting improvement in the company's working capital. Given the increased visibility on JAKKS' ability to replay the 2018 converts and the 16% slide in stock price since October 23rd, the analyst is upgrading her rating.

09/21/17

DADA

09/21/17DOWNGRADEDADAUnderperform

JAKKS Pacific downgraded after guidance reduction at DA Davidson

As noted earlier, DA Davidson downgraded JAKKS to Underperform from Neutral. Analyst Linda Bolton Weiser downgraded the stock after JAKKS cut its 2017 guidance and said it expects its EBITDA to drop year-over-year.Weiser says that JAKKS' stock probably rose in the wake of the guidance reductions because the company revealed that uninsured payments from Toys R' Us accounted for only 3% of its accounts receivable. However, the analyst noted that she now expects the company's 2017 EBITDA to fall 27% year-over-year, and she thinks that 2H17 consensus estimates could be too high, given Toys R Us' situation. The analyst is not confident about the company's 2018 EBITDA outlook and notes that it has been issuing stock to reduce its debt. Target $2.25.